hua872984

SPY Reject of longterm weekly/monthly trend since 2011

Short
AMEX:SPY   SPDR S&P 500 ETF TRUST
Can short starters then add on lower highs
Comment: - Lots of selling pressure near previous all time highs at $340. Above $345 will cut and reassess

- $300 key support & psychological level + 200 daily ema will be an important level to watch
Comment: Short term trendbreak on the daily. Added starters on $SPXS on friday. Will add to full size once $300 and 200 ema confirms as resistance.
Comment: Cut the starters. Will reassess as price develops in the upcoming week
Comment: Price is still trendline above 9 MA on both weekly, monthly timeframe. Until price confirms below sitting on sideline
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.